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- The table below shows cost data for producing different amounts of cleaning products. Suppose this market is a monopoly. Use the information in the table to find the output where the monopoly would maximize profit. Price ($) Quantity Total Revenue ($) Total Cost ($) 150 0 0 100 120 5 600 180 100 10 1000 400 90 15 1350 675 80 20 1600 1120 70 25 1750 1750 Profit maximizing quantity: What is the profit the monopoly achieved? $Microsoft was once accused of being a monopoly - they were one of many computer companies who sold internet browsers. True or FalseSuppose a monopoly's price is $180.00 and its marginal cost of production is $90.00. What is the firm's markup? The monopoly's markup is percent. (Enter a numeric response using a real number rounded to two decimal places.) étv 13 80 DII esc F1 F2 F3 F4 F6 F7 FB @ 23 $ 1 4 6 7 Q W E R Y tab F caps lock C V B mift fn control option command つ * 00 つ エ 关 SI
- Chapter 9 - Monopoly OPEN Suppose the following are true for a monopolist market: P = 450 - 16Q MR = 450-32Q MC = 55+ 37Q ATC=55+ 18.5Q What is the profit maximizing Price and Quantity? Q* = P = S How much profit did the monopolist earn? Profit = S O E a hp * aYou are the owner of a monopoly firm. The demand curve that you face is: 100 0. 5Q - Your Total Cost and Marginal Cost are: 1035 +10Q +0. 5Q2 10 +Q TC |3| MC The government decides to regulate your firm and imposes the Efficient Price. What is the price you must set? Regulated Efficient price $77.5 Regulated Efficient price = $55 Regulated Efficient price = $60 Regulated Efficient Price = $70Price and cost (cents per newspaper) Tiny is a small, isolated community served by one newspaper that can meet the market demand at a lower cost than two or more newspapers could. The Tiny Intelligencer is the only source of news. MC 120- The graph shows the marginal cost of printing the Tiny Intelligencer and the market demand for it. The Tiny Intelligencer is a profit-maximizing, single-price monopoly. 100– What is the efficient number of copies of the newspaper and what is the price at which the efficient number of copies could be sold? 80- The efficient number of copies of the Tiny Intelligencer is and the price at which this number could be sold is cents a copy. 60- 40- 20- 0- 100 200 300 400 500 600 Quantity (newspapers per day) of
- Homework Unanswered A monopoly is producing where marginal cost is $10,000 and marginal revenue is $15,000 in an industry where demand is above the average cost. Place the following actions in order to describe the steps the monopoly would take to maximize its profits. Drag and drop options into correct order and submit. For keyboard navigation... SHOW MORE III = E The firm realizes that as it increase production, total revenue will go up by more than cost increases. III = ||| The quantity produced will be larger than at the beginning and the price will be lower. = The monopoly will produce more units up to the point where marginal cost equals marginal revenue. The monopoly will make positive economic profits at the new price and quantity. As they increase quantity price is determined by the demand curve. There will be a surplus if the price is too high. Unanswered SubmitQuestion 38 Characteristics of a pure monopoly market include: O single supplier of a product with no close substitutes and barriers to entry. O few large suppliers of a unique product and entry into the market is blocked. O few large suppliers of a unique product and entry into the market is easy. O single supplier of a product with many close substitutes and barriers to entry. < Previous 2x GANITION NewMome DELL TricPrice Average (dollars Marginal cost per unit) 10 cost 6 Demand Marginal revenue 10 20 30 40 45 Quantity (units per day) The graph above shows the average cost, marginal cost, demand, and marginal revenue curves for a monopoly firm. If the firm seeks to maximize profit, it should set a price equal to Select one: $4. O b. $8. O c. $6 O d. $10. Clear my choice
- QUESTION 2 Quantity 1 2 3 5 456 7 8 9 Price с с с с с с сл сл сл 5 5 5 5 5 5 5 5 The price and quantity relationship in the table is most likely that faced by a firm in a O monopoly. O concentrated market. O competitive market. O strategic market.Consider the following demand and cost information for a monopoly. Quantity 12345 2 3 4 $10 To maximize profit, the monopolist sets price at (Hint: What price will get consumers to buy the profit maximizing output you find in the previous question?) $15 $20 Price $30 $25 $20 $15 $10 $25 Total Cost $3 $7 $12 $18 $2511. In a particular industry the minimum value of long run average cost is reached when a firm produces 1,000 units of output per period. At this output rate, long run average cost is $ı per unit of output. The market demand curve for this product is as follows: Price Quantity $3.00 1,000 8,000 12,000 20,000 2.00 1.00 .50 Is this industry a natural monopoly? Why or why not?